Annals of Spiru Haret University. Economic Series

8

Authors: Valentin KULETO, Elena GURGU

This article investigates the relationship between employer branding and organisational performance, identifying the underlying mechanisms contributing to enhanced performance. Next, we analyse various aspects of employer branding, including its influence on talent attraction, employee engagement, retention, and overall productivity. Finally, we provide insights on how organisations can strengthen their employer brand to optimise performance. In the competitive labour market, employer branding plays a crucial role in an organisation's ability to attract and retain top talent, directly influencing organisational performance. This article examines the relationship between employer branding and organisational performance by exploring its effects on talent attraction, employee engagement, retention, and overall productivity. It also offers insights on strengthening an organisation's employer brand to optimise performance. Employer branding, an organisation's reputation as an employer, can provide a competitive advantage by creating a motivated, engaged, and productive workforce. A strong employer brand attracts high-quality candidates, reducing recruitment time and cost and ensuring a diverse and talented candidate pool. Organisational culture, work environment, compensation and benefits, growth opportunities, and corporate social responsibility contribute to developing a strong employer brand. Effective employer brand communication across multiple channels, such as corporate websites, social media, and job advertisements, is essential to attract top talent. Employer branding events and employee advocacy can further strengthen the brand. Assessing the employer brand's strength can help organisations identify areas of improvement and gauge their attractiveness in the job market. Employee engagement and satisfaction are closely linked to an organisation's employer brand. Factors such as leadership, job design, recognition and rewards, work environment, and opportunities for growth and development contribute to employee engagement and satisfaction. Assessing employee engagement and satisfaction can provide valuable insights into their perceptions of the organisation and commitment to its goals. Engaged and satisfied employees exhibit higher performance, productivity, and innovation levels, leading to improved organisational outcomes.

11

Authors: Mihaela AGAGIU, Mariana IATAGAN

The hospitality industry in Romania is faced with a number of factors that unbalance the sustainable prospects of this industry, mentioning: the incidence of the pandemic context, the increase in inflation, the general increase in prices, the increase in electricity and heat tariffs, as well as the increase in the salary level of employees integrated in the activity the hospitality industry. Starting from 2020, tourist operators face the decrease in the number of tourists, as well as the exponential increase in costs resulting from the provision of tourist activity. Looking from this perspective, organizations operating in the hospitality industry are exposed to global socio-economic risks, limiting the innovative perspectives necessary for the development of this industry. Through the article, the incidence of negative socio-economic perspectives on the hospitality industry is measured, identifying the main factors that determined the decrease in the activity and profitability of economic organizations. The content of the article focuses on the innovative perspectives of the hospitality industry, presenting rural tourism and psychotherapeutic tourism as a pillar of tourism recovery and resilience identified in the national context.

13

Authors: Antonia MANDALAC, Mariana IATAGAN

In Romania, social exclusion highlights a reality that removes the perspectives of sustainable development of social equity and economic stability. The pandemic context caused a major discrepancy between national socio-economic environments, placing Romania first in the European ranking regarding the level of social exclusion and material deprivation. The insufficient space of the labor market, the intensity of unemployment, the government restrictions imposed to limit the pandemic context argue the alarming statistics of social exclusion, while the policies and strategies implemented to ensure an honorable standard of living for the Romanian population do not show notable results, limiting the possibilities reducing the level of poverty. The purpose of the article is to measure the level of social exclusion and material deprivation in Romania, formulating sustainable proposals for improving the quality of life of people whose socio-economic status is at the limit of existence.

15

Authors: Fidan HASANLI

The real estate industry is undergoing digital transformation, which affects its working conditions, market appearance, and economic growth factors. The characteristics and operations of real estate markets will be demonstrated in detail which is covered by both basic methods that have remained immutable for centuries and specific possibilities that have recently emerged. The prime idea is to identify industry alterations, the impact of digital transformation, investment decisions, expected future evolutions related to demand and supply, and regression analysis using Ordinary Least Square method which is used to evaluate the data that falls to the plane and variables that go beyond the restrictions in case of Azerbaijan. This paper provides some particular aspects of real estate within economic terms, to show how technological advancements could provide a comprehensive dataset with expected growth rates, real estate risk management, economic evaluation of real estate investment projects, real estate economics and most importantly demand and supply. The study supports fluctuation of prices in this market is mostly based on macro and micro economic levels.

16

Authors: Pedro Uwadum ADAGBOR, Abibat Motunrayo ADEBOLA, Bukola Linda OJEABURU, &Wilfred Isioma UKPERE

People now spend many years of their adult lives at jobs where they are exposed to various hazardous chemicals, unsafe acts, and other diseases because of population growth and rapid technological advancements. Occupational diseases and injuries may arise because of risk factors in the workplace. This study examined health education as panacea to occupational diseases & injuries in Ibadan Southwest Local government of Oyo state, Nigeria. Descriptive survey research design was adopted, and the population comprises of all workers in Ibadan South-West Local government of Oyo state. The sample size was 250 respondents selected using simple and multi-stage sampling techniques to cover the forty-eight manufacturing companies in the area. A self-structured questionnaire was employed for data, which were analyzed using frequencies, percentages, and chi-square at 0.05 alpha level. It was found that the prevalence rate of occupational diseases in the facility had (x2=81.94, p<0.05), the extent to which occupational health and safety programs was promoted had (x2=71.51, p<0.05), the effectiveness of occupational health and safety programs had (x2=64.94, p<0.05). Based on the findings, health education is a panacea to occupational diseases and injuries in Ibadan South-West Local government of Oyo state, Nigeria. It was therefore recommended that Government should provide regular health training programs to review, promote, and maintain occupational health strategies. Manufacturing companies/facilities should employ adequate qualified health educators to enlighten the workers on the risks associated with occupational diseases and injuries.

17

Authors: Palesa Edith PHASUMANE, Darlington ONOJAEFE, Phelokazi STUMA, Wilfred Isioma UKPERE

This paper investigated community perceptions of tourism development and identified their relationship between tourism development projects and business opportunities in Tsatsane community, Lesotho. This investigation was done using a qualitative research method to understand the relationship between respondents perceptions of tourism development projects and associated business opportunities. Using purposive random sampling techniques, 30 respondents—19 community members, 2 community leaders, and 9 stakeholders—were chosen and interrogated. After the choice, both qualitative and quantitative data were gathered using a semi-structured questionnaire that was constructed. While collecting quantitative data by email, the qualitative data used a self-administered questionnaire conducted in-person. Thematic analysis was used to organize the themes that emerged from the replies after they were received. Using Atlas Ti.8, similar themes were gathered and transferred. The study finds a statistically significant relationship between tourism development projects and recurrent themes like new knowledge of tourism-related business opportunities like job creation, increased trade, and education. About 5% of respondents have different opinions.

19

Authors: Roxana-Daniela PAUN

Distance doesn't separate people, silence does!" Artificial intelligence is a reality and it evolves every day, it simplifies life where it is used in the human’s interest, being already applied in many fields. Is there any risk of moving away from the noble goal of being at the service of the collective good and of being used against people to limit fundamental rights and freedoms? Is there any risk that the totalitarian society will re-establish itself, this time on a global level? The current study presents, in summary, a first analysis of the latest developments in this field, starting from the Chinese experience, as far as it is known and popularized regarding facial recognition made by artificial intelligence for monitoring citizens for the social credit system.

23

Authors: Frank O. ETIM, Wilfred I. UKPERE

The work set out to deconstruct and reconstruct Ted Roberts Gurr’s (1970) theory of relative deprivation, frustration-aggression as contained in his work ‘Why Men Rebel’ (1970). The study used descriptive research design and evaluated the capacity of the theory which was created to explain political violence in Africa and Asia in the colonial era, to also explicate why intense relative deprivation, frustration and aggression arising from the avalanche of poor governance in postcolonial African states such as Nigeria and many others, have not culminated into political violence and rebellion. The study presented numerous data obtained through observation and analysis of events in Nigeria, Africa and case-studies of American, French, English and Russian rebellions and distilled qualitative data which indicated lack of association between the variables. The application of the study design revealed first the state as the source of relative deprivation, frustration and aggressions of the citizenry when they are denied access to the public values which they feel entitled. Secondly, it further discovered that there are no direct correlations between relative deprivation, frustration and aggression as initially conveyed by the theory since 1970. Furthermore, it exposed that there is an intervening variables identified as ‘Social Movements’ or ‘Civil Society Organizations (CSOs), which harness relative deprivation, intense frustration and aggressions from the sufferers and convert them to other set-of-actions which may not be political violence and rebellions but could be advocacy towards the expansion of the mechanism for supply of public good or values and to make it accessible to many to address relative deprivation. The study concluded in the light of its findings, the initial theory require deconstruction and reconstruction to include ‘Social Movement’ as a principal component, it is only then that it could be applied in the analysis of issues in postcolonial African and Asian states.

24

Authors: B.O. OGINNI, I.O. AYANTUNJI, A. AWOLAJA, A.S. ADESANYA4 & H.O. OJODU

The study investigated HRM policies and practices on employee commitment to determine their relationship and effects on employee commitment using the SMEs in the South-West, Nigeria as the unit of analysis. The study identified recruitment and selection, training and development, compensation and reward systems, performance appraisal, working conditions, and employee participation as the prevailing HRM policies and practices in the SMEs and singled out compensation and reward systems, working conditions, and employee participation. A multi-sampling technique and survey research method was adopted while copies of questionnaires were administered to 369 respondents. It was found that there exists a positive relationship between HRM policies and practices and employee commitment while compensation and reward systems, working conditions, and employee participation in decision-making have more effects than other variables and R2 of 76% can also explain the variation on employee commitment. It was concluded that among all the activities embarked upon by the SMEs, in South-West, Nigeria towards the attainment of business objectives, HRM policies, and practices have a more significant effect on employee commitment most especially compensation and reward systems, working conditions, and employee participation. Thus, recommended that reward systems should be made competitive through environmental surveys and objectivity should prevail in the practice of the HRM policies.

25

Authors: Devajit MOHAJAN, Haradhan Kumar MOHAJAN

In this study method of Lagrange multiplier is considered to investigate profit maximization policy. In the twenty first century global economy faces serious complexities. Sensitivity analysis of economic firms becomes essential part of sustainable economic environment. The method of Lagrange multiplier is a very useful and powerful technique in multivariable calculus that is applied in economic models to obtain higher dimensional unconstrained problem from the lower dimensional constrained problems. This paper proceeds with Cobb-Douglas production function, where 6×6 bordered Hessian and 6×6 Jacobian are used to examine sensitivity analysis efficiently and elaborately.

11

Authors: Oloyede Raheem LAWAL, Michael Ayorinde AFOLAYAN

The Nigerian public service is crucial to the country’s economic development. This is because a vibrant public service sector is able to harness effectively overhead taxes and also account for public expenditure at all levels. The objective of this study is to investigate how public servants perceive work ethics to positively influence organizational success and productivity in Nigeria’s public sector. In this study, the researcher used qualitative methods to analyze the response of 15 individuals from the public who have visited a typical public office at least 3 times within the last years. An interview form containing 7 items was administered, and the results were analyzed from themes that give a true picture of the perception of respondents. It was observed that workers in public service are not professional enough, taking their jobs with levity. As a result, this study recommends public service reforms.

13

Authors: Mansuma ALIYEVA

Big and successful companies understand the importance of the human factor. Unfortunately, the purpose of some small and not very successful companies is only to make a profit. Many of them do not think about the ways how that profit is made. The abuse of people’s knowledge and skills has never been considered to be correct and never will be considered. The loss of employees’ loyalty is the result of underestimating their personality, desires and needs, which is common especially in the service sector. This article is about human resources and their role in the hotel sector of Azerbaijan. The purpose of the article is to emphasize the importance of the human factor in the development of tourism in Azerbaijan and the importance of investing in human resources in order to achieve quality and competitive advantage. The paper adapts and modifies the human action model to use it in analyzing the effectiveness and success of hotel companies.

15

Authors: Pretoria IPIGANSI, Sunday Stephen AJEMUNIGBOHUN

Risk financing is a critical element of a resilient future. Risk management techniques are important metrics in safeguarding the lives and property of mankind. Therefore, this study aimed at assessing the effects of financial risk management techniques on business performance, with specific reference to the perceptions of selected SMEs in Lagos, Nigeria. The study adopted a cross- sectional survey research design. The study population consisted of the total number of registered SMEs recorded in Lagos State at 11,666. Thus, both single-stage cluster and convenience sampling technique were employed in the questionnaire distribution and data collection processes. Two hundred and forty-eight (248) respondents were used in the study. The statistical technique employed was simple regression. This study confirms the importance of financial risk management techniques in business performance of selected SMEs operators in Lagos, Nigeria. It is recommended that insurance providers in Nigeria should attempt to tailor insurance products in a lovable and affordable manner to SMEs’ operators/owners in a bid to improve on their behavioural risk attitudes. More so, interest should be placed on impressive risk management communication and ideal physical risk control techniques among SMEs’ owners/operators.

18

Authors: Bojana NOVIĆEVIĆ ČEČEVIĆ1, Jovana MILENOVIĆ, Tamara RAĐENOVIĆ

Investing in research and development (R&D) activities greatly impact the assessment of the company’s finances and performance, which is why the issue of the accounting treatment of these costs is so important. The aim of this paper is to examine the relationship between investment in R&D activities and the profitability of pharmaceutical companies, i.e., to see whether R&D activities can affect the financial position and performance of 30 pharmaceutical companies in the period from 2010 to 2020. The obtained results show that investing in R&D activities has a positive effect on net income, earnings before interest and taxes, and earnings per share (EPS).

19

Authors: Milena NIKOLIĆ , Danka MILOJKOVIĆ, Mirjana JEMOVIĆ

Life insurance companies as institutional investors are key participants in the global financial market. By collecting the savings of the insured, accumulating large amounts of funds and their long-term investment into various financial instruments, these companies affect the development and stability of the financial market. Considering their significance, the aim of this paper is to determine the determinants of life insurance demand by analysing the environment in which these companies operate on the European financial markets, in order to detect the possibilities for increasing the sale of life insurance policies, and thus the amount of collected amount that will be invested in the financial market for a long term. Based on the research results, determinants that may encourage the life insurance demand in European countries are determined and the recommendations on how to manage the sale of life insurance policies, with the aim of increasing the amount of collected funds.

21

Authors: Abiodun Samuel ISAYOMI, Olumide Olumuyiwa OMODUNBI, Bmidele Perowei ABALABA

Genuine redistribution of income is usually not commonplace in underdeveloped democracies. Instead, politicians in these democracies often target private, excludable and reversible benefits at the poor in exchange for electoral support. This electoral strategy often results in a situation where maintenance of political power or re-election becomes the focus of public policies instead of public welfare. This study investigated the main and interaction effects of income inequality and clientelism on government effectiveness in West African Countries from 1996 to 2020. The study objectives were achieved using pooled mean group (PMG) approach of the panel autoregressive distributed lag (ARDL) estimation technique and the Dumitrescu Hurlin panel causality test. Findings from the study revealed that clientelism enhances government effectiveness at higher levels of income inequality but inhibits government effectiveness at lower levels income inequality. The study findings also revealed positive relationship and uni-directional causality between income inequality and clientelism. The study concluded that government effectiveness which thrives on lower levels of income inequality and clientelism is beneficial to socioeconomic development; and that socioeconomic development and government effectiveness is interdependent and mutually reinforcing.

22

Authors: Sunday Adekunle ADULOJU, Taiwo Olarinre OLUWALEYE

This study explores the effects of risk financing techniques on the safety culture among selected road construction companies in Ado-Ekiti, Nigeria. The study engaged a descriptive survey research design. The population of the study comprises all twenty-eight (28) indigenous road construction companies in Ekiti State out of which seven road construction companies were purposively chosen for the study. A total of 130 copies of a structured questionnaire were dispersed among the respondents to gather data for this study, out of which 118 which represent a 90.6% response rate was found useful for analysis. Descriptive and inferential statistics were used for data analysis. The regression results the from structural equation model revealed that the Risk retention has a significant influence on the safety culture with estimates .143(P= .015< .05) while the risk transfer technique recorded an estimate -.002(P=.987>.05) indicating a negative insignificant relationship with the safety culture of road construction companies in Ekiti State, Nigeria. Finally, this study confirms that risk financing techniques hold a negative significant joint influence on the safety culture of road construction companies in the metropolis of Ado, Ekiti State based on reported estimates -.591and(P =***< .05). Therefore, the researcher recommends that road contractors should be meticulous about the appropriate risk financing techniques that will aid safety culture.